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Unit Purchase Agreement
"I need a Unit Purchase Agreement for a luxury apartment in The Pearl-Qatar, with a foreign corporate buyer and staged payments, including specific provisions for property handover in March 2025 and compliance with Qatar foreign ownership laws."
1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and any registration numbers if corporate entities
2. Background: Context of the transaction, including brief description of the property and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the unit, including the basic terms of the transaction
5. Property Description: Detailed description of the unit including location, size, boundaries, and any included fixtures and fittings
6. Purchase Price: Statement of the total purchase price and currency
7. Payment Terms: Schedule of payments, including deposit, installments, and final payment details
8. Completion: Conditions for completion, timing, and procedures for transfer of ownership
9. Seller's Obligations: Detailed obligations of the seller including warranties and representations
10. Buyer's Obligations: Detailed obligations of the buyer including payment and compliance requirements
11. Title and Registration: Provisions regarding property title, registration process, and transfer procedures
12. Handover: Terms and conditions for the physical handover of the property
13. Default and Termination: Consequences of default by either party and termination provisions
14. Notices: How formal communications between parties should be made
15. Governing Law and Jurisdiction: Confirmation of Qatar law as governing law and jurisdiction for disputes
16. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Condition of Property: Detailed provisions about the condition of the property, used when selling existing units
2. Construction Completion: Used for off-plan purchases, detailing construction milestones and specifications
3. Mortgage Provisions: Include when the purchase involves mortgage financing
4. Service Charges: Include for properties in managed developments with ongoing service charges
5. Foreign Ownership Compliance: Required when the buyer is non-Qatari, addressing compliance with Law No. 16 of 2018
6. Defect Liability: Important for new properties, detailing warranty periods and remedies
7. Property Management: Include when the property is part of a managed development
8. Assignment Rights: Include when either party may need to assign their rights under the agreement
1. Property Plan: Detailed floor plan and location map of the unit
2. Specification Schedule: Detailed specifications of the unit including finishes and fixtures
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Title Documents: Copies of relevant title documents and ownership certificates
5. Building Rules and Regulations: If applicable, rules governing the use of the property and common areas
6. Snag List: For existing properties, list of any defects or issues to be remedied
7. Service Charge Schedule: Details of service charges and management fees if applicable
8. Form of Transfer/Title Deed: Template of the final transfer document to be executed
Authors
Real Estate
Construction
Property Development
Banking and Finance
Legal Services
Investment
Property Management
Facilities Management
Urban Development
Residential Housing
Legal
Real Estate
Sales
Compliance
Property Management
Business Development
Investment
Operations
Finance
Risk Management
Real Estate Manager
Property Developer
Legal Counsel
Contracts Manager
Real Estate Agent
Property Manager
Investment Manager
Compliance Officer
Real Estate Director
Sales Manager
Development Director
Transaction Manager
Corporate Lawyer
Purchase Manager
Real Estate Consultant
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